Bitcoin Bear Markets: What Why When

Bitcoin Bear Markets: What Why When

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Bitcoin has actually had its reasonable share of bearishness in the past. Let’s briefly wrap-up the most considerable ones and see what we can gain from them.

The 2011-2012 Bear Market

The bitcoin rate fell from $29 on June 8, 2011 to $2.10 on November 18, 2011, followed by months of sideways action:

The very first bearishness, 2011-2012. Chart information source: CoinMetrics.io

The most unpleasant bearishness occurred prior to the majority of us were even mindful that something like bitcoin existed. More than 10 years earlier, the rate of bitcoin reached nearly $30 on the then-popularMt Gox exchange, just to be followed by a “stairway to hell” pattern that would take the rate to $2.10 in a numerous months’ time.

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